The Elite 8 2008: Ten Years and Counting of Insurance Technology Leadership

Ten years ago one could still get away with using a number of long-standing generalizations about the insurance industry and its relationship to technology: too conservative, lacking vision, focused too much on tactics and not enough on strategy, relying too heavily on tradition-bound workforces and management that lacked credibility with the executive suite. But even as most insurance companies were criticized as technology laggards, it was clear that the generalizations did not always apply and that, in fact, quite a few organizations were averse to doing business as usual -- and saw smart investments in information technology as critical to improving everything from distribution strategies and customer retention to risk management and compliance. Sometimes the executives who led these efforts were "old-timers" who had been able to reinvent themselves and their IT organizations. Sometimes the leaders were from a newer generation of executives who had as much experience on the business side of insurance as in operations and IT.

It was to recognize these determined, visionary and effective technology executives that Insurance & Technology launched the Elite 8 honors in 1999. For 10 years the Elite 8 special issue has identified and insightfully profiled a total of 80 leading insurance executives from all lines of business and companies of all sizes. Some of the honorees have gone on to new challenges in this industry; others have left for new opportunities in other industries; and still others have earned well-deserved retirements after extremely successful careers.

Despite their differences and unique accomplishments, the Elite 8 honorees share a lot: intelligence, passion, insight, commitment to success. This year's roster of outstanding executives continues in this illustrious tradition. The selections, coordinated by I&T Executive Editor Anthony O'Donnell and Associate Editor Nathan Conz in collaboration with our panel of expert advisers (see page 13), illustrate the distance the industry has come in 10 years and the directions in which it's going.

Given the current turmoil in the financial services world, the expectations of and demands on insurance IT executives are only going to increase. That's not necessarily a bad thing, as it reflects an understanding of how integral technology is to performance and success. For 10 years I&T's Elite 8 honorees have led the charge -- and they will continue to do so in the years ahead.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio